argenex (NASDAQ:ARGX) Stock Gets Price Target Trim from Oppenheimer

argenex (NASDAQ:ARGX) had its target price lowered by equities researchers at Oppenheimer from $1,100.00 to $1,038.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Oppenheimer’s price objective would suggest a potential upside of 26.73% from the stock’s previous close.

A number of other research firms have also commented on ARGX. Barclays reiterated a “buy” rating on shares of argenex in a research note on Monday, September 7th. Bank of America upped their target price on argenex from $1,016.00 to $1,088.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Morgan Stanley upped their price objective on argenex from $1,230.00 to $1,250.00 and gave the company an “overweight” rating in a report on Monday, August 31st. Wells Fargo & Company raised their target price on argenex from $1,350.00 to $1,415.00 and gave the company an “overweight” rating in a research note on Wednesday, August 26th. Finally, Weiss Ratings cut argenex from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,155.05.

argenex Stock Down 0.7%

argenex stock traded down $6.00 during trading hours on Monday, hitting $819.03. 122,846 shares of the company traded hands, compared to its average volume of 345,136. The firm has a market cap of $51.24 billion, a P/E ratio of 31.43, a P/E/G ratio of 0.86 and a beta of 0.44. The firm’s 50-day simple moving average is $959.93 and its two-hundred day simple moving average is $877.49. argenex has a 1-year low of $661.85 and a 1-year high of $1,072.75.

argenex (NASDAQ:ARGX) last issued its quarterly earnings results on Tuesday, July 21st. The company reported $7.32 earnings per share for the quarter, topping analysts’ consensus estimates of $5.86 by $1.46. The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.45 billion. argenex had a net margin of 32.19% and a return on equity of 43.59%. On average, equities research analysts predict that argenex will post 28.83 earnings per share for the current year.

Institutional Investors Weigh In On argenex

A number of institutional investors have recently bought and sold shares of ARGX. Janus Henderson Group PLC boosted its holdings in shares of argenex by 3.4% during the first quarter. Janus Henderson Group PLC now owns 2,541,732 shares of the company’s stock worth $1,847,592,000 after purchasing an additional 83,568 shares during the period. Sands Capital Management LLC lifted its position in argenex by 2,046.6% in the 4th quarter. Sands Capital Management LLC now owns 356,870 shares of the company’s stock worth $300,110,000 after buying an additional 340,245 shares in the last quarter. Jennison Associates LLC increased its stake in shares of argenex by 3.4% in the first quarter. Jennison Associates LLC now owns 237,468 shares of the company’s stock worth $173,411,000 after acquiring an additional 7,707 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of argenex by 1.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 175,311 shares of the company’s stock worth $130,277,000 after acquiring an additional 2,579 shares during the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of argenex by 98.9% during the first quarter. First Trust Advisors LP now owns 107,195 shares of the company’s stock worth $78,279,000 after acquiring an additional 53,293 shares in the last quarter. 60.32% of the stock is currently owned by institutional investors and hedge funds.

About argenex

argenx SE (NASDAQ:ARGX) is a global immunology company focused on developing and commercializing therapies for patients with severe autoimmune diseases. The company combines antibody engineering technologies with disease biology to discover medicines that target the underlying mechanisms of immune-mediated disorders.

argenx’s leading product is efgartigimod, marketed as Vyvgart and Vyvgart Hytrulo in the United States. The therapies are designed to reduce disease-causing immunoglobulin G (IgG) antibodies by targeting the neonatal Fc receptor (FcRn).